Browsing: KCB Group Plc

• From January to March, investor confidence improved notably due to the stabilisation of the domestic currency (Kenyan Shilling), according to the Capital Markets Authority (CMA).
• The Capital Markets Soundness Report indicates a more stable shilling, which consequently positively influenced the equity markets, which improved compared to the quarter ending December 2023.
• The four market indices, NSE20, NSE25, NASI, and NSE10, closed at 1752.43, 2975.42, 113.09, and 1155.41 points respectively, an increase from 1,501.16, 2,380.23, 92.11, and 907.51 points.

Kenyan shilling on the rise

Nairobi Securities Exchange (NSE) was among the top African performers in the first quarter of 2024, buoyed by improved investor confidence that reduced outflows.

From January to March, investor confidence improved notably due to the stabilisation of the domestic currency (Kenyan Shilling), according to the Capital Markets Authority (CMA).

The Capital Markets Soundness Report for the period under review indicates a more stable shilling, which consequently positively …

The National Bank of Rwanda (BNR), Rwanda’s banking watchdog, gave KCB regulatory approval in March to merge the operations there, resulting in a more significant stake thanks to the infusion of KCB Rwanda’s assets into the combined entity.

Through the transaction, KCB expanded its retail banking presence in Rwanda.

Before the merger, BPR held a 10.2 per cent market share, which, coupled with KCB Rwanda’s six per cent stake, allowed it to surpass Equity Bank Rwanda, which was in second place with 11 per cent of the market.…

The most recent expansion by Kenya’s KCB was in Tanzania where the bank launched a mini-branch, at the EAC Secretariat Headquarters in Arusha, Tanzania late last year. This expansion speaks volumes to the merit of Kenya banking sector.

Overall speaking, Kenya’s banking industry as exemplified by KCB’s good performance is symbolic of the resilience of Kenya’s economy. The country’s economy has remained strong even in the face of recent economic shock waves wrought by Covid-19 and even regional conflict like the ongoing demonstrations in Sudan.

Actually, according to the Africa Development Bank (AfDB), Kenya’s economy is well on its way towards a full recovery, if no other Ovid waves emerge that is. However, it is not all sugar and candy, the AfDB does acknowledge that “…nearly 2 million people are estimated to have fallen into poverty, and nearly 900,000 lost their jobs,” over the cause of the pandemic.…